Sonicriendeer's Journey to Freedom

Been gone from the journal for a couple of days, yet, they were productive days for me.

9/ 10/ 2008:

Being a carpet cleaner/ janitorial maintenance professional, I am in and out of res/ coms all day dealing with sometimes extremely brutal messes. Part of my job is to befriending/ earning a customer's trust in our abilities while being empathetic to their needs( ie: being polite and courteous regardless how my day's going ).

However, when a customer/ client bails from a scheduled appt. without reason, that displays an insecure lack of trust/ breech of contract while forcing us to either reschedule for a later date or do a quick fill to replace them with another client who needs our services. When neither requirement is met, we have no choice but to call it a day and go home, which is exactly what happened while leaving over three hours to concentrate my efforts to building my network and locating prospective properties for quickies. Allow for me to elaborate in the next paragraph.

In the three hours I had, I investigated two lots located only yards from each other on a newly-upgraded busy crossroad two minutes walking distance from my home. I jotted the contact numbers from each lot and proceeded to contact another realtor friend in another community close to my home. I asked him briefly if he knew the comps at that intersection as well as referring me to a locally reliable and certified home inspector. He wasn't able to find any comps regarding the properties yet received a referral to an certed inspector he has used for his clients in the past along with any other pertinent information.

From there, I contacted another local REI newbie not familiar with Dean's techniques from an advertisement to ask if there we any foreclosures I am able to partner and close into. Gutsy as the approach was, I was not afraid to ask. His answer was one of discouragement since he had trouble getting his feet wet with a few offers and not scoring the net. He'll keep my number on hand should he find he needs a partner in the future. Keep pressing on.

To conclude, I posted some content re: building a network to a thread on the site here to give me assistance to approach/ ferret out key players. I'll reference the answer in a few.

I, then, made some more phone calls to the THAD lines re: advanced courses/ mentoring prior to sinking my teeth into more of the material. After an hour of reading, I crashed for the eve.

9/ 11/ 2008:

The day of infamy was spent more on reading the material on the job than anything else. It's pretty cool when the boss gets wind of what I am reading while instructing me to eat the remainder of his chips and salsa( a meal fit for the kings, haha ) and outline every key point throughout the pages of Dean's book( No Money Down ) in the remaining twenty minutes of our lunch hour. This is pretty funny and encouraging to me, personally, since he realizes I am not receiving any encouragement from my efforts from my wife on the homefront. It made me day, to be quite honest:-)

Now THAT is priceless!

I did not care if my wife screamed in my face that she is pursuing a divorce against me with our son sleeping in the next room from us( a conversation I really have grown completely numb to at this point ). She didn't care if she stole my dreams. I just encouraged her in her dreams knowing in the depths of my gut that our lives are about to be changed through this course. I refuse to force her to see what I see knowing I'm risking casting my pearls to the swine as she desires. All she is caring about, at this point, is repeating the negative family history of her generational curses via divorce and hoping for a positive outcome( makes me wonder what planet she is on at the moment ) for our son. All of this just makes dig my heels in further to making this work for our future.

It's her choice to engage in the blessings or take herself out of the covering of the very husband that is sacking much from his life for the foundation that has taken him over ten years to build. The past, once all is said and done, will become immaterial in the end.

More resolved than ever,

Don( Sonicreindeer, Daddy Reindeer, and Chief Reindeer )

YAY!!!!! I've actually accomplished an actual set goal for myself for the first time in many years. Now THAT'S an accomplishment.

The goal:

Read all of the information in the THAD kit by September 30, 2008.

Goal accomplished:

September 20, 2008

For all you do, do it unto God

In His Lamblight:

Sonicreindeer

Don, The partner thing is a good one. Another DG member and myself tried to partner up on a couple deals, but time and distance was prohibative to making it happen. Always stay in touch with the site, you never know who will be calling you...Jan

Maybe I am jumping ahead of the apple cart here. I don't know in which state I will choose to build my foundation as the situation between my wife and I are deteriorating at a rapid pace. It is always ideal to build a foundation close to home( CA ). However, the price of doing business here is astronomical. Of course, I have personally witnessed some pretty phenomenal deals go down during the past week while bouncing around homes and cleaning some pretty nice ones, must I add. Yet, I have a friend a few hours east of my home in another state( NV ) whom has been encouraging for me to flat-out relocate near them while establishing a partnership under an LLC since he and his wife are pretty juiced up about Dean just the same. I need to stay close to my wife and son which makes a move three hours from my home practical in the business sense. I get my space away from an unhappy person whom can't seem to get along with anyone around her as well as herself. Yet, there are some extremely prime areas two hours away from home where I'd be just as fine and dandy although I'd still be in my home state and not in my friend's state as her desires. The cost of business in my home state is insane, as I have previously mentioned, in comparison to the other state just east of here( CA/ NV ). It's pretty enticing to set up shop in NV and still live in CA.

I am slowly constructing my network at home, however. Interesting as it seems, taking the temperature of my friends whom I consider pretty solid are scared as the deer staring into the lights of the vehicle about to hit them when I remotely mention RE investing. Instead of refuting their claims, half of them homeowners, I'm allowing for them to draw to their conclusions as they are stuck in rut of their ways just as their folks before them. My hometown maybe in a depressed state at the present. I have a gut feeling that the area is about to explode within the next year as more and more people retire from their big city jobs nearby to settle in a more relaxed area such as where I live.

More to write about later as I gather my research of the various functions of LLCs/ S-Corps in one area while residing in another location. I'm sure the legalities of such intricacies are entangling as we share.

Thanx for the space to let my thoughts fly this eve. Nighters

Sonicreindeer

Jan:

Thank you for your encouragement to me in your post. The formation of partnerships are not new to me for other projects I had in the fire in the past. The lessons I have learned during the partnerships have been huge for me. Regrettably, I've allowed for grudges to harden my thoughts and my heart which only served to close out even the most well-intentioned person.

I must say, though, I have made the choice over a year ago to let go of the past, take a break from life for a short time to regroup and heal, and restore some of those partnerships as they are now leading me into some other potentials I've approached in the past two weeks. All I can now see, Jan, is the sky as I am hooking up with DG's awesome material while slowly putting it to use.

Again, Jan, thank you for taking out the time to reply in my journal. I am looking forward to hearing more from y'all in the future.

In His Lamblight:

Don

Sounds like lots of big decisions headed your way. I'm certain you will make the best choice for you and your family, and I know that you can make a go of it no matter where you are. And always, you'll find lots of support here at the DG site. We all love to see each other succeed!

God bless,

Rina

P.S. Thanks for starting your journal. We'll be following along.

Ahhh, YES!!!

One step closer towards obtaining an actual running vehicle once again. My 1990 Toyota 4-Runner took a dive south buy blowing both heads at once back in May 2008 b4 the two back-to-back historical fires nearly torched my hometown in June( google " Humboldt Fire 2008 " and " Camp Fire 2008 " to get a feel of the recovery we are facing at the present ). Fortunately, God did preserve the vehicle for me to repair. All that is left is the installation of all six of the fuel injectors along with a radiator and I will be in business. That'll relief a load of stress from the wife owning the sole running vehicle while I am able to pitch into the family finances once again. This will allow for me to actively invest the time necessary without having to walk to my every commitment. Besides, my legs and feet are rebelling due to their overuse, hehe. Praise Him for this victory.

I'm deciding to restrain myself from having to invest into an LLC or an S-Corp, at the present, until I am able to think clearly from repairing my vehicle so those finances are directed with priorities in mind. I'd like to get a feel of " doing a few deals myself " before plunging into a partnership with someone or some entity. Investment opps are starting to open up for me near my home, as we speak, which would allow for me to act as a middleman for the realtors/ 1031 investors for the short-term to build up my net worth. Once I get a feel how the process works here in CA, I'll have the financial confidence to
go out and nail a few deals myself.

For the time, however, I'm scheduling three hours a day doing online footwork for four properties in my area to construct the facts and paperwork together to present some fair offers to the owners. I'm also looking into other lots and homes near my friend's home in the desert so I won't be left in the dust. For those areas, my goal is to notch up my research efforts quite a bit to cinch up a quickie. Since I already know all of the prospective areas to invest into in his hometown, I will be partnering with he and his wife on a deal. That'll be a reward for them for allowing me my space and a safe haven to do my business b4 heading deep into the open wilderness of America's Outback.

To wrap up this entry, I'll be pretty busy and on my toes( no pun directly intended here , hehe ) this week. Will keep in touch as time will allow as I will be readying myself for the big vacation. Since the family will be on their own vacation without me, I will be missing them. However, I'm looking for the big rewards upon my return to share with them in God's time.

In His Lamblight:

Sonicreindeer( Don )

Just read through your thread - and wanted to add the encouragement that you can be successful where ever you choose to make it happen! Its determination, knowledge, faith and action that bring it all together. I am on the east coast- an hour south of the big apple. Cost of living here is crazy high, and so are home prices - even in this market and financial climate. But by doing my research and investing my time I finally found and finished my first deal and have an offer in on my second. No one thought I could make it work - but I never doubted myself because I had the knowledge from Deans book as well as the wealth of information here on this site and all the wonderful support of everyone.
I wish you all the best and look forward to following your path upward to exciting new and greener pastures for yourself!
Keep focused on your success and it WILL come to you!
Laura

Been there are done the whole mess you are in right now. Make your down time work for you, when it looks like the sky is getting dark and cloudy, find the sun and walk around in it. If I was never there, I wouldn't know how you feel, but I do. Bury your dreams in this site----it will happen for you....Jan

Hey, Laura:

CONGRATS to you for taking bold initiative and making your first deal happen! You're also on the heels of another deal? Now THAT'S the example I should follow! Never give up. Never say die. Just fly high into the sunlight and have fun!

In hindsight, what were the components you've utilized in the book and the kit that worked out for you in the deal? What were the lessons learned that you will use for your next deals?

I appreciate the fact you chose to take a few moments of your time to read through my thread and add a message of encouragement. Realizing this whole journey is really a documentation of the process as well as benchmarks of my accomplishments and goals ranging from the mundane to the amazing. My ultimate goal from this process is to learn from others while encouraging them into the successes I am currently working towards in my life through example. That would also include quitting my carpet cleaning job:-)

I'll be looking for more of your posts in the future. In the meantime, keep rockin' those deals out of your area.

May God rivhly bless y'all in every area of your life, Laura.

In His Lamblight:

Don

Hey, Laura:

CONGRATS to you for taking bold initiative and making your first deal happen! You're also on the heels of another deal? Now THAT'S the example I should follow! Never give up. Never say die. Just fly high into the sunlight and have fun!

In hindsight, what were the components you've utilized in the book and the kit that worked out for you in the deal? What were the lessons learned that you will use for your next deals?

I appreciate the fact you chose to take a few moments of your time to read through my thread and add a message of encouragement. Realizing this whole journey is really a documentation of the process as well as benchmarks of my accomplishments and goals ranging from the mundane to the amazing. My ultimate goal from this process is to learn from others while encouraging them into the successes I am currently working towards in my life through example. That would also include quitting my carpet cleaning job:-)

I'll be looking for more of your posts in the future. In the meantime, keep rockin' those deals out of your area.

May God richly bless y'all in every area of your life, Laura.

In His Lamblight:

Don

YOU are an inspiration with your positive outlook alone - it will take you far! For me, everything I learned from the book was important because I didnt know anything at all about real estate. I started by spending hours reading, studying market trends, studying my personal areas to know where to look and where NOT to look - LOCATION IS KEY! I went through 5 realtors before I found one that took me seriously, walked through countless houses etc etc before I saw it - a run down, vacant, sad house with a tiny FSBO sign in the window. There is lots of info of this journey in my thread 'first house - but rent or flip' and as well as in my journal if you care to take a read through some time. Right now I gotta get back to my 'real' job haha....it will be fun sharing our real estate adventures!
And right back at you with Gods blessings in your life!
Laura

I am new to the site, and enjoying finding so many that are giving glory to God here. Thank you for your encouraging words. Pas. Greg

Howdy, all. I missed y'all during the last week/ week point five on the thread here. I will include more detail re: my time in the Reno/ Tahoe Corridor as time will allow( four birthdays, including yours truly this Friday, in one week to attend and plan for ).

To whet your appetite and without participating in the gambling trappings of the environs up there( I never personally had held an attraction to those nasty slots, anyway ), let's just say the boss and I had an awesome time while making a personal foreclosure contact in the area there. I will disclose more info as the week draws to a close.

In the meantime, I wanna head on back up there as soon as my vehicle is running the way it should( just one more part to go and I'm outta here ), just as my title suggests. For now, though, I thank God for the tiniest miracles that are presently occuring in my life from ALL sides, including the meeting with my new contact in an area I foresee myself setting up shop in the not-too-distant future.

I'll leave y'all with an email message from a friend of mine from my local area. the message was one of an encouraging tone to me that I thought should be shared to all. Any suggestions as to how to approach him re: the first portion of the message is most certainly welcomed as I foresee him as a knowledgeable ally for future transactions at all levels.

" Hi Don, yes have been busy with mostly family issues. Work is actually slow, but that just makes me busy trying to find work. I'm in no position to invest right now, but you have my motivational support in what ever you do. The first time I met you was at a big football game at the school that my brother had gotten together. I was on offense and supposed to block you from rushing the QB. I never met with such energy and determination in a rusher as I did that day. I've never forgotten the battle you gave me. I know with that determination and action you can do whatever you want to accomplish. Choose wisely to make sure that your energy is channeled down a path that is doable. "

I am considering approaching our present landlord with the no-money-down, lease-option, owner-financing strategy. The glitch I'll be facing is the lease is under my wife's name, not mine.

What type of leverage could I utilize to purchase our home as she has lived in the home for two years without knowing how to exercise the present option as verbally presented to her by the landlord. How could I use her credits to purchase the home under the option? Better yet, how could I convince the landlord to legally revise the contract under both names while exercising her option without appearing to take advantage of her( my wife )?

The overall goal here is to provide a solid foundation of a first-time homeowner while using it as leverage towards future negotiations.

Thank you, in advance, for your timely input.

Don

I believe it is a great idea to do the lease-option, both you and your wife. Maybe, you could go 50/50 on the deal. I feel that if you speak to her and she understand how your new business could benefit you all as a family, there should be no problem. Put God to the Forefront and move full speed ahead. Good Luck and I will see you at the TOP.

Sandra

I agree with Sandra on the lease-option. Just talk it over with your wife, and have her talk to the landlord with you. If you are both on the same page and have a good relationship with the landlord, I imagine he (she?) would be fine with rewriting the contract and using the credit your wife's already accumulated. If not, you could always just add your name to the title at the time of purchase.
Sounds like you're doing some "thinking outside the box". Good job.

God bless,

Rina

P.S. Can't wait to hear more of your Outback REI.
P.S.S. And in case I forget on Friday, HAPPY BIRTHDAY, DON!!!!

Rina:

Hey, thank y'all very much for those birthday wishes. That just made my day:-)!!! Gotta work on my special day in a vacant home for sale in a fire danger zone located 10 minutes from my home. It's an older double-wide mobile home on a lot nearly .3 acre in a residential area on a quiet street. I was considering contacting my local realtor re: comps. However, upon further research of the area, there is only one way out for the approximately 1500 residents whom reside in the area. Judging by the still-fresh fire path I have to look at everyday when I commute to the home, the less inclined I am towards extending an offer to either the seller or the realtor along with the creative financing to make it happen. Not worth the risk, not even for a 2.5% finder's fee. Common-sense applies here.

Looks like I have a confirmation of how I should rightly proceed( thank you Rina and Sandra ). I've been considering this route for nearly a year now( b4 Dean ). Yet, I've been holding back due to major marital issues my wife and I have been encountering( the finances being the crux of all of the issues ). Should she not want to meet with the landlord( her ) to rewrite the rental agreement to include a 6-month or 1-year lease option, I'll go ahead of her to exercise that option since I found that my name is on the paperwork with a fair increase of the rent. Of course, I'll personally want the home re-inspected and re-appraised for any repairs/ improvements that need to be made to the home based upon land values and additional comps in the neighborhood where we live. As soon as I have all of the particulars in place which Dean talks about in BARM, I'll lock in the price on the option and assign the home to a third, independent party to pay our mortgage. In turn, use our home to leverage the financing of other homes either in our hometown or in a smaller town an hour from the nearest big city and only five minutes from the desert( the latter being my personal choice ). Gotta find a way to secure my family somehow.

Anyway, Rina, I appreciate y'all going the extra mile researching the options I am able to exercise along with sending me those awesome birthday wishes. All things work out to the good of those whom love Christ Jesus our Lord.

You have an awesome day today.

In His Lamblight:

Don

Sandra:

In my reply to Rina, I've stated I've been considering meeting with the landlord to rewrite the rental agreement to include a 6-month or 1-year lease option. However, should my wife agree to immediately exercising the lease-option based upon the previous rent credits made into the home, that would be a huge surprise to me since she is not the one to take the calculated risks I would take due to her fear, which is not Godly.

I have not, however, considered the 50/50 split option that we could both utilize. I'll give that option a serious thought when the time comes to exercise our option. That's really extreme out-of-the-box.

Sandra, I am appreciative for your valuable input along with making me think even more creatively re: the lease-option deal. I will be seeing y'all right at the top:-)

In His Lamblight:

Don

This statement says it all. Whatever your WHY statement is for jumping into REI, I just put in a 13+ hour day @ work yesterday( Monday )on two details at another home in the hills not too far from where I live. The details should have rightly been wrapped up in less that three hours( waxing all linoleum surfaces in home totaling less than 200 squares along with 1300 squares of carpeting b4 a scheduled inspection this morning ).

Both the boss and I finally looked @ each other and resigned ourselves to the fact we've done all we could to make the home show the way the realtors in the area expect for it to show to prospective buyers. man, if the home wasn't in a fire-danger zone, I'd buy the home for my spoils. However, I'd like to sleep at night knowing there are other homes available in my area which are not located in such a zone and the families whom are safe as a result of my decisions for placing their safety first.

Enough of playing hooky from work( I slept for 10 hours straight w/ out realizing ). I gotta blast outta here. I'm surprised the boss is cleaning @ another client's home after with we've gone through with the zone home yesterday. Since I will be meeting with a local realtor in the area, pray all goes well as I will be detailing/ exposing my game plan to this individual as I am looking for that out-of-the-box LTR, not just that traditional flash in the pan( buy a home form you, you get your commission, I get stuck with a mortgage, etc. ).

In His Lamblight:

Don

For loan pre-quals, how do I get around the potential disqualifying screen of not having a bank account?

What are the re-assurances I am able to present/ offer the loan officers I am sincerely in the process of rebuilding a positive credit history and am a safe credit risk?

No sooner than I list my " WHY " here has God ultimately blessed me with an individual whom has just completed my investment network. After two months and countless scheduling snafoos( Is that a word? ), the doors have finally opened to the one person I have been hoping would be willing to think out-of-the-box. Not only is he willing to think the way we do, he is also a realtor in my area:-) Little did I also realize just how much of a network he would also bring to the tab which will only benefit me in the long run. He is also willing to work with me in the areas I desire to work along with rep me in potential deals within the scope of his license without too much problem.

We spent 2.5 hours just laying our cards out on the table and shooting straight with one another. God knows I could've used a meeting like this two months ago( but I was not ready just yet ). Just the fact I am able to consider last eve's meeting a mission well accomplished, I am ready to jump out there and turn in the offers.

CA might be known as " The Golden State ", but what I found last eve was not just gold, but also a whole ton of silver in the mix:-)

Take care, folks, Have an AWESOME day.

Don

One of my accomplishment goals was to quit my job as a carpet cleaner/ janitorial maintenance professional once this vehicle started kicking into high gear. Having to rethink the logistics of this plan, I wasn't expecting the boss to become excited into REI. In fact, he is highly considering partnering with me on this whole gig here. He shared with me the various plans he had brewing in his mind to segue his cleaning business into the overall picture all the while connecting with the realtor I just spoke with just hours ago( Monday Eve ).

We've worked together in the carpet business off and on for the last nine years. The partnership/ friendship has improved notches above what either of us would've ever expected every time we hook up. Heck, it seems as though our entire area starts to light up whenever he and I work together as a team. Having lived through the educational experience of cleaning up a home to show condition for all the realtor in our area, I thought that it would only make sense to bring him and the business onboard to reduce the cleaning costs we would otherwise have to bring in an outside crew whom may not perform up to our stringent standards. However, even that may become a problem once we start meeting our accomplishment and financial goals. Might have to update our equipment, trucks, labour force, etc.( hehe ). Though I have never truly considered working two, possibly three careers at once, I am starting to see this becoming a very huge reality.

I'll need to revise my accomplishment goals now. This will be a very good benchmark from which I will share of my outback experiences( NV- USA ) from two weeks ago. What I have written heere will inevitably come full circle to the successes I will very soon be experiencing( YAY!!! ).

In His Lamblight:

Don

10/ 6/ 2008:

This is a real huge step of faith for me, personally. I was hoping to have my vehicle up and running by now as I was busting hard to accomplish. The prospect of two-trackin' the desert trails was a prime motivation, however, it wasn't part of God's plan at this time. Not that I mind my boss much( he's a great man whom has encouraged me greatly in my Christian walk ), but, I had an itinerary to actually head down to Carson City, NV, to look at properties. Well, let's see what transpires on this trek as I struggle to keep an open mind.

Actual outcome of that day:

Once I put aside my pitiful selfishness, which threatened to kill any adventures I would've encountered on the trip, the scales fell from my eyes as we encountered our first stop of the day( a family friend up in a gorgeous remote mountain meadow just outside of Quincy, CA ). We spent 30 minutes with the most content older fellow who'd rather encourage y'all than drone on about the day's events. Moreover, he was happy to show us one cherried-out 'Stang that sure-as-shootin' invoked my deepest dreams and what I wanted to accomplish through investing.

He kept on askin' us if we had the time to spare to head on up to his ranch another 30 miles up the road to meet up with his wife( we finally gave in after awhile ). First, though, we had to meet up with his daughter and her friend in town. Little did we also realize that this ranch was on our way up to our destination( Reno, NV )and the history behind this place( it was Cary Grant's hideaway from the Hollywood glam ) as we accepted his invitation.

Upon our arrival, it looked so familiar to me although it was my first visit to the ranch with the boss and his friend. There was something soooo therapeutic about setting foot on a real live working dude ranch in such a secluded location that I was hooked. The hospitality the entire family offered was first-class, yet heartwarming. Before we knew it, an hour passed when they all invited us to dinner. Due to the nature of schedule, we had to decline and jump back on the road towards the wide open desert into our destination before sundown.

It wasn't too long after we jumped back on the road again that we made a dinner stop to one of my favourite classy dives near the small town I eventually want to settle down located @ nearly 4900' above sea level. Yes, this place also has a Starbucks as y'all walk into the door. It was here the hospitality in this quaint little Starbucks that nearly put me to tears as I introduced my boss to the young lady behind the counter( she asked me about my 4-runner and my family like a friend would do ). What was even wilder was, after not being in this shop for nearly six months, this person still knew how I to make my order( raspberry mocha with xtra chocolate ). To top it off, when my boss asked her if we could eat our dinner meal in the restaurant, she gladly obliged us to a seat and we hung out for another hour as the only real guests there.

After our meal and as soon as he retreated into the guy's room, I asked her some pretty serious questions about who the best realtors in the area were and whom were the most ethical regarding foreclosure investments in the area. The information she had provided me was priceless as I learned of her father busting on the sale of his investments( he probably was not armed with our information, most likely ). She also proved my research of the area correct when she had mentioned the area is nowhere near bottomed as more and more folks are relocating to the larger areas in Northern CA/ NV. You bet'cha the lights went on in my braincells as the boss returned and we thanked her for her fine hospitality as we were trying to beat the sunlight through my favourite town( a one-light town ) and into the desert over the immediate pass.

Another hour passed upon our arrival into the Reno- Sparks metro area. We kept ourselves entertained as we could not stop talking about the hospitality we'd both received on our trip, which was turning our to be more like the adventure you'd only read about in an old western novel. As a feeling of tranquil familiarity set into my heart( I was actually starting to relax for the first time in months ), we found our destination and hotel, but not after allowing for him to get lost and experiencing the same fine hospitality we'd experienced a short time before. Why, after pulling into a lonely gas-mart a mile south of the freeway, some fine older lady went out to her vehicle to grab her map of the area and point us in the right direction while leaving us in her mart all alone not knowing if we'd rob the place. How's that for trust!!!

I'll leave you folks with this near-distant reminder of the Free America mentality as the next two days were just as wild for me, personally, for my investment career. Will include them as we go. For now, digest whatever kernels you are able to glean from my experiences until I write a Part II.

Take care and foresee the beauty within the mundane.

An interesting turn of events occured this morning as I was waking up from only sleeping 4 hours( was coughing all evening and could not sleep a wink ). I received a phone call from our landlord re: our home. The call lasted 15 minutes, but, my,oh,my, what a productive 15 minutes they were:-)

Since I was planning on calling her later in the week, anyway, re: rent-credit lease option purchase, I took her pulse to she if, indeed, she was interested to sell us the home at all. She's not super motivated, however, I juiced her up by asking if today's housing market required some creative solutions( hint, hint ). As she agreed, much to my ultimate surprise, I started to pray fervently about setting up a block of time this coming weekend( next Sunday Afternoon ) where we are able to discuss the three scenarios I have thought about financing the home. I didn't want to give too much away to her up front. The main thing is she is open to discussing the options I will be implementing in the deal using the no-money-down principles in TALD and BARM.

Already, I've been in touch with my realtor to run the comps in my area along with her gardener for needed improvements to the front/ back yards. Since my network is already in place once the deal works out, I will be leveraging the equity out of the home once we refi to purchase another foreclosure in the town in which I want to relocate two hours away from our area an hour outside of Reno on a fix-and-flip. Once the numbers check out from the inspection along with the appraisal and the comps are in place, I will be ready to present an offer to her.

There is two questions I have not thought about that should be considered here, though. Can I approach our landlord with a 100% rent credit to finance the down while she carries the balance of the financing under a one year lease option, hereby locking it up regardless if the market upswings? Will I be able to assign the home to another party under the lease option?

Just some thoughts as the doors are opening pretty quickly here.

Don

What are the freebie sites/ links the banks, realtors, investors, appraisers, etc., use to compile accurate comps on residential and commercial parcels and structures?

Will these( un )bannered freebie sites include current federal, state, regional, and local
( county, city, township, municipality ) links to review funding guidelines and network you with other investors, brokers, and title companies in that comped area?

Thank y'all for the information in advance.

Sonicreindeer( Don )

After some unplanned downtime from carpet cleaning( YES!!! ) due to a nasty flu strain( UGH!!! ), I didn't have any energy to even get out of bed and greet the day. I'll spare y'all of the gory details of my dilemma. I did attempt to make it work for me, however. But, God has a way of blatantly reminding you to take it easy and forget about work, even investing, for a short time. Being a typical workaholic male, I failed to listen and paid for it in the worst way. Lesson learned.

Nonetheless, I did go up to my favourite getaway location in Northern CA with a friend this afternoon to work out any remaining bugs that needed to be shakin' free from my 4-Runner. I took the toughest backroads into some of the most amazing high country the Sierras( 6500 feet with snow ) have to offer to flush out the cooling system. It was a slow go because of overheating issues, but it did give me the encouragement to get back into the investing game just getting my mind cleared up and focused from the world's definition of a " real job ". Off the beaten path, I've been wrestling with this singular, corrosive, negative thought which expresses the exact frustration I have felt for many years towards carpet cleaning( " I h8 my job " ). I love the boss, but I severely hate my job.

Anyway, we made it to our destination in the early afternoon( it sure is nice to be back home on my terms and with my vehicle into which I had painstakingly invested my freedom ). My friend was at a loss trying to figure out what I was up to and just enjoyed the ride( wise choice for a male ). As we hiked around town, I found two older homes( both zoned as rez-coms as I later learned from the listing realtor ) next to each other. Then, a few minutes later, I found two more commercial props listed with another local realtor. I was getting rather curious as to what was up in this town. My next plan of attack was to find a realtor whom had an open door just to gather some updated marketing information on the housing market there. I nudged to my friend that I had to go to the local market located only a block from where we were hiking around and taking pix to park the 4-Runner. He was " game " since he knew nothing of the area, yet finding himself falling in love with the town as I had done nearly two years previous. Funny how God had orchestrated the details of what could very well be my first deal, folks.

As I parked the vehicle, I walked 10 feet across the road to a realtor's office( there were at least twenty pix of homes plastered on the window. Talk about archaic, effective marketing? ). I walked through the door into the office to talk to a polite agent re: the two rez-coms homes his office had listed across the bridge from the market. He told me the price was $89K each. Then, a slip of the lip from him revealed a nicer 4-year-old custom built 4/ 2 with a busted pipe( water or gas ? ) for 260K. He gave me an address which I ran the comps for when I returned home later this eve on MLS.com . Since the previous owner has relocated into a nursing home in another state, the relative( s ) are acting as power of attorney on this individual's behalf and temp ownership of this home. The realtor mentioned they are extremely motivated as they will consider financing a few points higher than the banks with a possible lease option. I did not mention to him what I was thinking right away since I hadn't crunched the numbers 'til this eve. Here's what I am thinking right away:

- 7% owner financing/ seller carry-back
- 2% commission of the potential sale price( if offer is accepted by owner ) to the realtor with immediate listing rights as I " fix-and-flip " the place

- " And/ Or Assigns " to a renter( family preferable ) with a 1-year lease option. Must be flexible for showings or work out down with realtor for his 4% commission( 2+4= 6%. Pretty sneaky, eh? ).

- 2.5% seller consession due at closing along with 20K + 20% overage for repairs of home.

- Offer owner's POA full price for home( 260K ) to insure all goes well. I am prepared to negotiate terms to compensate for the full offer.

Mind you, I was NOT looking for ANY action today. I was only looking to work out the bugs of my ride and relax with a good friend who is also going through a rough spell in his life( wife wants a divorce for no apparent reason and he's left out in the cold ). Not too shabby for a day's work( the house, I mean ).

I need some feedback as to how I need to proceed with this scenario to benefit this older person's last days. Realtor needs to hear from me STAT!!!

Muchas Gracias!

In His Lamblight:

Sonicreindeer

November has been a very crazy month for me @ my day job. Too much day work and not able to meet my scheduled times to post updates to the journal. Boy, I'd was gettin' a bit cranky with the boss these past few weeks although I'd internalize the fact that I truly hate my job. Fact is he knows it. That's why he's going to bring on two part-timers to fill my space while having me concentrate on more local real estate in NE California to grow/ expand our business after the turn of the year( I wished it were here, already ). That announcement was made to me prior to the turkey day festivities I had planned in the Outback with my friend and his family. That was just the beginning of my attitude change I've been asking God to bring into my life. The real fun began when I left home last Wednesday afternoon and lasted into this past Sunday eve( I wished the day would never have ended ) upon my return home. Check this out.

I was in a hurry to return home so I could hook up with some friends at the local school gym for a couple of hours of volleyball. Instead, I ended up hanging out in my favourite little hideaway outside of Reno, NV, for three hours hob-nobbiin' with the locals while driving around for distressed/ foreclosed properties. I ended up filling three pages of memo pad in my planner( this does not include the two additional pages a local agent provided me along the way ). Heck, I came real close to scoring a deal on an owner-financed lease option the owners purchased from a short sale on the north end of the town. Outstanding newer single-family home built in 2003. 3/2 with a garden( lower )-level master suite, office, and extra bath. The owners and I discussed various financing options with the lease-option being primary after a year and applying all of the rent towards the down. I told them I had to crunch the numbers as soon as I arrived home. Fortunately for Starbucks in this hideaway, I had just enough fuel in me to initiate the process the moment I arrived home.

I am stuck at the title search for the history of the home. Also need to find an inspector and appraiser to make certain all is well structurally and find out the comps. I'd really be hating my job if I could snag on this deal while relocating in an area my heart desires. Exit strategies includes renting the home out myself, assigning it over to another renter to help me exercise my option, leveraging the present equity toward the purchase of another home on the opposite end of town, or do nothing( not acceptable ).

Let's make this happen!!!

In His Lamblight:

Sonicreindeer